Listed logistics company Freightways has seen a 20% jump in its half-year profit compared to the same period a year ago, thanks in part to a strong first quarter boosted by the Rugby World Cup.
Listed logistics company Freightways has seen a 20% jump in its half-year profit compared to the same period a year ago, thanks in part to a strong first quarter boosted by the Rugby World Cup.
The company has reported a profit for the six months to December of $18.97 million. Revenue was $192 million - up 9% on last year.
When a $700,000 insurance payout for the Christchurch earthquake is excluded, underlying profit was $1.8.3 million - up 16% on the same period in 2010.
Revenue from the core express package and mail division rose 6% to $149 million, while the information management business jumped 19% to $44 million.
Managing director Dean Bracewell told Evening Business on Checkpoint the results are pleasing in challenging times and he expects a gradual improvement from Freightways' divisions to continue over the next six months.
The company has declared an interim dividend of 8.5 cents a share compared with 7.25 cents last year.
